House Engrossed

State of Arizona House of Representatives Fifty-fourth Legislature First Regular Session 2019

HOUSE BILL 2618

 

AN ACT

 

appropriating monies to the budget stabilization fund.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Appropriation; budget stabilization fund; intent

A.  The sum of $175,000,000 is appropriated from the state general fund in fiscal year 2019-2020 to the budget stabilization fund established by section 35-144, Arizona Revised Statutes.

B.  The legislature intends that:

1.  The monies appropriated by subsection A of this section and deposited in the budget stabilization fund be used to protect funding for education in this state.  

2.  If an economic downturn occurs in this state, the monies deposited pursuant to this section should be used to fulfill teacher compensation and other education funding obligations before being used to fund other government functions.